how to sell stocks from my late lolo

Hello sir/ mam im just wondering how my lola could sell the stock certificates? We already talk to the bank then they ask me to secure a extra judicial, c.a.r etc but the problem is we dont have enough money to pay all of this.. can you please give me advice or do you know some people who can handle this problem? We are willing to give commission. thanks.

Hello sir/ mam im just wondering how my lola could sell the stock certificates? We already talk to the bank then they ask me to secure a extra judicial, c.a.r etc but the problem is we dont have enough money to pay all of this.. can you please give me advice or do you know some people who can handle this problem? We are willing to give commission. thanks.

Find a brokerage. I dont think banks can sell stock certificates.If you find a brokerage sell it back to the market.

Tax lawyer. You will need extra-judicial eklat anyway. Probably an SPA if grandma is not up to going up and down elevators, etc. Also, there's the matter of estate tax on the 50% of that stock certificate.

On the case that you brought up i think, your family cannot sell those stocks unless it is already transferred to the beneficiary. So in short kailangan muna maipangalan sa lola mo yung stocks before niyo ibenta kahit plano niyo na outright na ibenta kagad. Hindi naman kasi pwedeng magbenta ng stock sa isang buyer na ang seller ay patay na (because the stocks is still named after your lolo), unless it was directed by the owner to sell those stocks to a specific person on his last will. <not 100% sure on that case ha, thats my own perspective lang......Post Merge: Jan 30, 2012, 12:15 AMAnd to add, i think you will have to consult to a stock brokerage firm because they are more expert on those than a bank although some banks offer this services. Well its obvious that you will need a lawyer as well to handle the legal matters of the stock transfer. As far as i know may legal team rin ang mga stock brokers kaya it would be much easier kung sila na rin ang lalakad talaga non (if they offer those services), parang one stop shop lang...... beware of the agreements you do with them or with anyone baka tagain ka sa commission, handling and legal fees. Of course may tax rin kayong babayaran (inheritance chorva and a lot more) maliban sa paglakad lang ng transfer........ medyo magastos pero worth it naman in the end, 25M ba naman..... kung ako sa inyo edi umutang muna kayo pambayad doon, mababayaran niyo naman diba after ma-sell niyo na yung stocks, bawing bawi na kayo don after.........

Transfer of Shares Due to Death of A Stockholder Transfers of shares owned by deceased stockholders may be effected either judicially or extra-judicially, as follows:

Judicially - the surviving heirs should submit the following: (1) Order of Partition approved by a Philippine court, indicating the manner of division of the Estate among the surviving heirs; (2) stock certificates registered under the decedent's name; (3) specimen signature cards of the new stockholders, (4) a copy of valid identification cards, and (5) transfer fees charged by FPHC's stock transfer agent.

Extrajudicially - the surviving heirs should submit the following: (1) Deed of Extrajudicial Settlement; (2) certified true copy of the stockholder's death certificate; (3) a certification from the BIR on the payment of, or exemption from the Estate Tax; (4) Affidavit of publication evidencing that the extrajudicial settlement involving the shares of stock was published in a newspaper of general circulation; (5) stock certificate(s) registerd under the decedent's name; (6) transfer fees charged by FPHC's stock transfer agent, and (7) a two year Heir's Bond, should the heirs wish for the immediate transfer of shares to their name. Otherwise, transfer will only be made two years from the submission of all requirements.

Upon submission of the aforementioned requirements, the heirs should also surrender any dividend check named under the deceased stockholder so that the same may be replaced in the same manner that the shares were partitioned.

Did you file a notice of death with the BIR?This has to be done within 2 mos after the death otherwise there is already a penalty for not filing in the amount of 6k (before).Within 6 mos therein you should have submitted true copies of properties,extra-judicial settlement if applicable,list of property holdings,tax decs,etc. and pay corresponding fees.If the amount to be paid will burden the family, you can ask for extension of payment from the BIR chief.However,due to your failure to file within the stated period you may already have waived this privilege.After the 6 month period, there will be more penalties for not filing estate taxes.The months that you let pass will add to the penalties so the earlier you settle the better.Good Luck!

On the case that you brought up i think, your family cannot sell those stocks unless it is already transferred to the beneficiary. So in short kailangan muna maipangalan sa lola mo yung stocks before niyo ibenta kahit plano niyo na outright na ibenta kagad. Hindi naman kasi pwedeng magbenta ng stock sa isang buyer na ang seller ay patay na (because the stocks is still named after your lolo), unless it was directed by the owner to sell those stocks to a specific person on his last will. <not 100% sure on that case ha, thats my own perspective lang......Post Merge: Jan 30, 2012, 12:15 AMAnd to add, i think you will have to consult to a stock brokerage firm because they are more expert on those than a bank although some banks offer this services. Well its obvious that you will need a lawyer as well to handle the legal matters of the stock transfer. As far as i know may legal team rin ang mga stock brokers kaya it would be much easier kung sila na rin ang lalakad talaga non (if they offer those services), parang one stop shop lang...... beware of the agreements you do with them or with anyone baka tagain ka sa commission, handling and legal fees. Of course may tax rin kayong babayaran (inheritance chorva and a lot more) maliban sa paglakad lang ng transfer........ medyo magastos pero worth it naman in the end, 25M ba naman..... kung ako sa inyo edi umutang muna kayo pambayad doon, mababayaran niyo naman diba after ma-sell niyo na yung stocks, bawing bawi na kayo don after.........